SINGAPORE (March 12): China has ordered an immediate ban on refined fuel exports in March in a further step to pre-empt a potential domestic fuel shortage caused by the US-Israeli war on Iran, four sources with knowledge of the matter said on Thursday. The ban, issued by the National Development and Reform Commission (NDRC), includes shipments of gasoline, diesel and aviation fuel, the sources said. Jet fuel for aviation bunkering is not included under the ban, two of the four sources said. Chinese oil majors had planned to ramp up fuel exports in February and March to profit from stronger margins amid a seasonal lull in domestic demand during the Lunar New Year holiday period, traders have said. Traders had previously forecast March fuel exports at 2.2 million to 2.3 million tons for gasoline, diesel and jet fuel, excluding volumes for aviation bunkering, up by 300,000 to 400,000 tons from February estimates.

Source: The Edge Markets March 12, 2026 05:54 UTC